MacGREGOR TTS TAKEOVER APPROVED BY KOREA

Friday, December 28, 2018

MacGregor, part of Cargotec, has received clearance from the South Korean Fair Trade Commission on the company's acquisition of the marine and offshore businesses of TTS Group ASA, which was first announced on 8 February, 2018.

MacGregor announced the approval from the German regulator on 6 November 2018 but is still waiting for the approval from the competition authority in China. As communicated on 20 December, 2018, MacGregor expects to close the transaction in Q1 2019.

MacGregor announced the approval from the German regulator on 6 November 2018 but is still waiting for the approval from the competition authority in China. MacGregor expects to be in a position to close the transaction during the first quarter of 2019.